Sonoma Pharmaceuticals, Inc. Annual report pursuant to Section 13 and 15(d)

12. Leases (Tables)

12 Months Ended

Mar. 31, 2021

Finance leases are comprised primarily of vehicle leases. Balance sheet information related to our leases is presented below:

	March 31,		March 31,
	2021		2020
Operating leases:
Operating lease right-of-use assets	$	769,000	$	671,000
Operating lease liabilities – current		240,000		200,000
Operating lease liabilities – non-current		529,000		471,000
Finance leases:
Property, plant and equipment		–		–
Current portion of financing leases		–		–

Other information related to leases is presented below:

	Year ended March 31, 2021
Lease cost
Operating lease cost	$	435,000

As of March 31, 2021
Other information:
Operating cash flows from operating leases	$	(215,000	)
Weighted-average remaining lease term – operating leases (in months)		37.7
Weighted-average discount rate – operating leases		6.00%

As of March 31, 2021, the annual minimum lease payments of our operating lease liabilities were as follows:

For Years Ending March 31,

2022	$	296,000
2023		261,000
2024		194,000
2025		110,000
Thereafter		6,000
Total future minimum lease payments, undiscounted		867,000
Less: imputed interest		(98,000	)
Present value of future minimum lease payments	$	769,000